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Company No: 13846108 (England and Wales)

UTILITEAM HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

UTILITEAM HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

UTILITEAM HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
UTILITEAM HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 1,018,411 7,521,570
1,018,411 7,521,570
Current assets
Debtors 4 998 998
998 998
Creditors: amounts falling due within one year 5 ( 3,003) ( 7,522,468)
Net current liabilities (2,005) (7,521,470)
Total assets less current liabilities 1,016,406 100
Net assets 1,016,406 100
Capital and reserves
Called-up share capital 6 1,000 1,000
Profit and loss account 1,015,406 ( 900 )
Total shareholder's funds 1,016,406 100

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Utiliteam Holdings Limited (registered number: 13846108) were approved and authorised for issue by the Director on 16 February 2024. They were signed on its behalf by:

M D Peters
Director
UTILITEAM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
UTILITEAM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Utiliteam Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 36 Moorings Reach, Brixham, TQ5 9TB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

The accounting period for the prior year was nine months duration, therefore the prior period figures are not directly comparable.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 October 2022 7,521,570
At 30 September 2023 7,521,570
Provisions for impairment
At 01 October 2022 0
Impairment 6,503,159
At 30 September 2023 6,503,159
Carrying value at 30 September 2023 1,018,411
Carrying value at 30 September 2022 7,521,570

4. Debtors

2023 2022
£ £
Other debtors 998 998

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to own subsidiaries 1,353 7,521,568
Other creditors 1,650 900
3,003 7,522,468

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary A Shares shares of £ 1.00 each 1,000 1,000

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Dividends paid to the director 87,000 0